Shipping company: It will take 6 to 8 weeks for the Hormuz shipping network to return to normal

The company's ships have not passed through the Strait of Hormuz. The crisis has led to additional weekly costs of about 50 to 60 million US dollars. The company stated, "We have no choice but to pass some of the costs on to our clients." Although the ceasefire news is positive, our network will need at least another 6 to 8 weeks to return to normal. While the market is enthusiastically celebrating the ceasefire news, the actual local situation remains full of uncertainties. In addition, for now, it appears that a large number of merchant vessels will clearly remain cautious, unwilling to risk passing through the Strait of Hormuz hastily. We may only see traffic increase from 6-7 ships per day to around 10-20 ships. Even so, this is still far from the normal situation before the conflict, when about 120 to 130 vessels passed through the strait each day. For the time being, the ceasefire news is the best outcome the market can hope for to gain more relief time. However, this also seems to be its very nature: merely buying time in hopes of receiving more positive news eventually. But until then, risks will always remain.